Taylor stood down from his roles with the £223.9m investment company after advising the board that his business interests “included an involvement with a small but growing portfolio of collateralised reinsurance businesses”.
This portfolio had the potential to clash with the specialty reinsurance portfolio of the trust, leading him to resign to avoid any actual or perceived conflicts of interest, a stock market announcement explained.
Taylor said: "I am pleased to have played a role in the launch and evolution of the company and I wish continued success to the CATCo directors and management team."
Nigel Barton has been appointed as chairman and non-executive director of the trust with immediate effect. Barton has worked in the insurance and reinsurance industry for 35 years, including founding specialist insurance broking business Oxygen Holdings.
Alastair Barbour, non-executive director of the trust, commented: “Given Nigel’s substantial experience and knowledge of the insurance and reinsurance industry, the board are delighted that someone of his calibre is joining the board of directors.”